TELESEMINAR: Basics of Fiduciary Income Tax, Part 1

October 12, 2010
12:00 – 1:00 p.m.
1.00 MCLE hours

Telephone

The taxation of trusts is fundamentally different from the taxation of individuals and businesses. It has its own logic for determining amounts of income and gain, allocating income and gain between the trust itself and beneficiaries, and determining the timing of reportable gain. In this way, fiduciary income tax can have a dramatic impact on the type of trust a benefactor chooses to form, how the trust is structured and investment decision made, and when and how distributions are made to beneficiaries. Understanding fiduciary income taxation is essential for all trust and estate planners. This program will provide you with a practical guide to the framework of fiduciary income tax and how it impacts your clients’ trust planning. The program is designed for all tax attorneys with intermediate to advanced levels of practice experience. Part 1 of 2.

Highlights:

· Practical framework of fiduciary income taxation and key decision points

· How the taxation of trusts differs from individual and pass-through/business taxation

· Grantor v. non-grantor trusts and when it's beneficial to classify as one or the other

· Understanding “distributable net income” and allocation to trusts and beneficiaries

For more information about the new ISBA Teleseminar programs, please visit: http://www.isba.org/cle/teleseminar

Program Speaker:

R. Mark Williamson, Alston & Bird, LLP, Atlanta, GA

Jessie A. Gilbert, Cummings & Lockwood, LLC, Greenwich, CT

Be sure to register for Part 2 of this program for a full discussion. Click here for more information.

R. Mark Williamson is a partner in the Atlanta office of Alston & Bird, LLP, where he co-chairs the firm’s wealth planning group and has nearly 20 years experience in estate planning and federal taxation. He is a Fellow of the American College of Trust & Estate Counsel and has served as an Adjunct Professor of Law at the University of Wisconsin in Madison and Georgia State University. He formerly chaired the Fiduciary Law Section of the State Bar of Georgia and the Estate Planning and Probate Section of the Atlanta Bar. Mr. received his B.M., cum laude, from Louisiana State University, his M.M. from the University of North Texas, and his J.D. from Florida State University College of Law.

Jessie A. Gilbert is a partner in the Greenwich, Connecticut office of Cummings & Lockwood, LLC, where her practice focuses on estate planning, estate and probate administration, and family business law, including business succession. She is co-author of the book “Settlement of Estates in Connecticut,” published by West, and has served on the Executive Committee of the Connecticut Bar Association Estates and Probate Section. Ms. Gilbert received her A.B. from Hamilton College, her J.D. from Case Western Reserve University School of Law, and her L.L.M. from New York University Law School.

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